The title was previously published by Mumbai-based Tata Group company RDI Print & Publishing, under a licence from the US parent, Reader's Digest Association Inc, since 1969.
"Reader's Digest, a wholesome family magazine, fits perfectly in our portfolio, having no conflict with any of the existing brands and, at the same time, it will benefit with our publishing, marketing, sales and distribution strengths," says Aroon Purie, chief executive, ITG.
India Today owns publications in the news, current affairs, business and technology domain apart from a television channels. The new acquisition joins its other global publications, Cosmopolitan and the recently-acquired Golf Digest. The group also distributes Time and Fortune in India.
Says Purie: "We will leverage our group's strengths and resources to accelerate its rate of growth, as also to introduce it to a wider audience in India, especially among the youth, and eventually expand the franchise in additional Indian languages."
In India, Reader's Digest has a circulation of half a million copies and readership touches 3.5 million.